Stop Cash Shrink

A credit union (CU) is now the first financial institution (FI) in Massachusetts to offer banking services to recreational marijuana companies. GFA Federal Credit Union revealed to The Boston Globe that it has decided to enter the sector after a year of research and preparations. The move will allow consumers to pay for marijuana with

Armored cars. Remote cash collection machines. Blockchain technology. A state-run marijuana bank. All of these things are being discussed as potential solutions to a major marijuana industry challenge: a lack of banking services and an industry that is likely to be unusually cash-heavy. “These stores can do $1 million (of business) a month,” said James

When Massachusetts banks look at recreational marijuana, they see the same opportunities that intrigue many investors and businesses: a fast-growing industry that could hit $1 billion in revenue by 2020 and will need lots of professional services, including banking. But mostly, they see risk. And unless their entreaties to the federal government for greater comfort